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Orsu Metals increases mineralized system at Sergeevskoe gold project in Russia

The news comes as the company wraps up its 2019 exploration program at the project, which saw Orsu drilling over 3,500 m over 14 holes

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The new mineralized system now covers a 2 km by 1 km area

Orsu Metals Corporation (CVE:OSU) said Tuesday it had doubled the mineralized footprint of its highly prospective Sergeevskoe project in Russia. 

The junior explorer identified new mineralized clusters at three areas of the gold project, increasing the footprint of the mineralized system to a two-kilometre by one-km area. 

The news comes as the Vancouver-based company wraps up its 2019 exploration program at the project, which saw Orsu drilling over 3,500 metres (m) over 14 holes and trenching nearly 2,800 m over 14 trenches.

READ: Orsu Metals closes on C$1.4M in financing to advance Sergeevskoe project in Russia

The assays from the drilling and trenching program doubled the mineralized footprint at Sergeevskoe, according to Orsu’s director of exploration Dr Alexander Yakubchuk.

“In combination with the maiden resource envelope and conjugated mineralization that extends off the Sergeevskoe property onto the neighbouring Klyuchevskoe deposit to the east, the overall size of the mineralized envelope reached 3x1 km at this world class gold system,” Yakubchuk told shareholders in a statement.

The deposit remains open to the west and north, suggesting the potential for further expansion.

In addition, new mineralized zones were discovered at Peak Klyuchi, Sergeeva and to the north of Kozie, with individual veins varying in length from 250 to 425 m and a depth of over 200 m.

The company also tested an area called Zone 23 West, which include the deep parts of Intermediate and Kozie domains, the company said. Results pointed to an increase in the extend of gold-mineralized veins.

Orsu said it is planning to update a NI 43-101 mineral resource estimate at Sergeevskoe.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Orsu Metals Corporation

Price: 0.305 CAD

TSX-V:OSU
Market: TSX-V
Market Cap: $13.28 m
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